Breaking News Instant updates and real-time market news.

2016-11-25 12:00:04

AA

Alcoa

$31.95

0.435 (1.38%)

12:00

11/25/16

11/25

12:00

11/25/16

12:00

Alcoa 35-strike calls see interest as shares gain 49c to $32

Alcoa 35-strike calls see interest as shares gain 49c to $32. The flow includes sweeps of Feb 35s for $1.15 across multiple exchanges. More than 10K traded total and the market has lifted to $1.30 to 1.40. Jan and Apr 35 calls are the next most actives. Total volume is 14K calls and just 336 puts. Bullish flow comes a little more than week after the company updated its outlook in a slide presentation. Earnings last reported 10/11.

AAAlcoa

$31.95

0.435 (1.38%)

11/07/16

11/07/16INITIATION

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alcoa (AA) initiated with a Buy at Citi, a Market Perform at Cowen, and an Overweight at Morgan Stanley. 2. Extraction (XOG) Oil & Gas initiated with an Overweight at Barclays, an Overweight at KeyBanc, a Sector Perform at RBC Capital, a Neutral at Citi, an Outperform at Wells Fargo, a Buy at SunTrust, and a Neutral at Goldman. 3. Hostess Brands (TWNK) initiated with a Buy at SunTrust and a Buy at SunTrust. 4. Sanofi (SNY) initiated with a Neutral at Goldman. 5. VimpelCom (VIP) initiated with an Outperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

11/07/16

MSCO

11/07/16INITIATIONTarget $27MSCOOverweight

Alcoa initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Evan Kurtz with an Overweight and a $27 price target saying shares are pricing in a commodity outlook well below spot and his base case commodity view. Further, he believes power sales deserves a higher multiple and the opportunity for third party bauxite sales is not reflected in valuation.

11/07/16

COWN

11/07/16INITIATIONTarget $29COWNMarket Perform

Alcoa initiated with a Market Perform at Cowen

Cowen analyst Anthony Rizzuto started Alcoa with a Market Perform rating and $29 price target. The analyst says aluminum market pressures in the near-term keep him on the sidelines.

11/07/16

SBSH

11/07/16INITIATIONTarget $30SBSHBuy

Alcoa initiated with a Buy at Citi

Citi analyst Alexander Hacking started Alcoa with a Buy rating and $30 price target. The analyst views the risk/reward as attractive. He believes the stock offers "relatively limited downside" in a bear market for aluminum with "very significant upside" in a bull market.

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Chesapeake Utilities (CPK) initiated with a Neutral at Ladenburg. 2. CONSOL (CNX) initiated with a Neutral at Goldman. 3. Johnson Controls (JCI) assumed with an Equal Weight at Barclays. 4. American Midstream Partners (AMID) initiated with a Buy at Janney Capital. 5. Brookfield Infrastructure (BIP) coverage resumed with an Outperform at Wells Fargo. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Abercrombie & Fitch (ANF) downgraded to Sell from Hold at Argus with analysts John Eade and Katelyn Bayone citing the company's third quarter miss and what they see as its "challenging sales outlook for the remainder of the year." 2. Duluth Holdings (DLTH) downgraded to Hold from Buy at Stifel and to Market Perform from Outperform at William Blair. 3. DAVIDsTEA (DTEA) downgraded to Market Perform from Outperform at BMO Capital and to Market Perform from Outperform at William Blair. 4. Hilton (HLT) downgraded to Outperform from Buy at CLSA with analyst Jon Oh citing valuation. 5. Horizon Pharma (HZNP) downgraded to Neutral from Buy at Mizuho. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. AstraZeneca (AZN) upgraded to Outperform from Market Perform at Leerink with analyst Seamus Fernandez saying the recent weakness in shares provides an "excellent entry point" ahead of several critical pipeline events that have the potential "to transform this giant into an exciting growth story." 2. Autodesk (ADSK) upgraded to Buy from Hold at Canaccord with analyst Richard Davis citing expectations for improved free cash flow, as he sees a path to $6 in FCF by 2020 and $11 per share in 2022. 3. Eaton (ENT) upgraded to Overweight from Neutral at JPMorgan with analyst Ann Duignan saying optionality of the company's balance sheet should offset broad weakness across its end markets. 4. Fluor (FLR) upgraded to Buy from Neutral at Citi with analyst Andrew Kaplowitz saying the company is positioned to outperform given amid oil and gas capex stabilization, a lift off the bottom in mining off the bottom and "muted" 2017 expectations. 5. Sysco (SYY) upgraded to Neutral from Sell at Goldman. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.